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CareCloud Reports Record Growth in 2012; Drives Adoption of Cloud-Based Solutions by Physicians Nationwide

Company Accelerates Market Momentum with Launch of New Clinical and Patient Applications, Enterprise Customer Wins, and Leadership Expansion

MIAMI–(BUSINESS WIRE)–CareCloud, a leading provider of cloud-based practice management, electronic health records (EHR), and medical billing software and services, today announced that the company concluded 2012 with its 12th quarter of consecutive revenue growth. Highlights included: the expansion of CareCloud’s customer base of medical groups into 45 states; the achievement of more than $1.5 billion in annualized accounts receivables under management; the inclusion of more than 4.5 million patients on its platform; and the addition of key executives, many from its leading competitors. Across the board, accelerating market demand was driven by practices migrating from outdated client-server technologies to the company’s modern cloud-based clinical and financial applications and services.

“In just three years, CareCloud has made substantial progress in its mission to replace the outdated core of healthcare technology that burdens US medical groups. We experienced our most rapid growth to date during 2012 and concluded the year with more than 2,000 providers in 45 states representing more than 50 specialties, all while securing a 96% client retention rate,” said Albert Santalo, Chairman and CEO of CareCloud. “We also completed a full suite of what is now the industry’s most modern and flexible clinical, financial, and administrative applications. Along the way, CareCloud on-boarded smaller practices at a record pace while also securing significant enterprise accounts.”

Product and Platform Expansion Support Growth

This past year saw CareCloud make substantial innovations to its core software applications and services. The company launched CareCloud Charts, its cloud-based EHR; introduced its new Mobile Patient Portal offering, enabling patients to access their health records through iPhones and iPads; and invested in operational improvements to help practices implement faster, collect more, and run their operations more efficiently. The launch of Charts completed CareCloud’s powerful suite of fully integrated clinical, financial, and administrative applications, accessible by practices 24/7 from any browser, platform, and location. Furthermore, its flexible platform allowed these applications to be made available to practices either as a full suite or on a standalone basis – reflecting a growing market demand.

Company Bolsters Senior Leadership

CareCloud significantly expanded its senior leadership team across sales, marketing, product development, operations, and technology in 2012. The year began with the addition of Paul Henry and Brad Blakey as Vice Presidents of Small Practice and Group Sales, respectively. Mr. Henry, formerly the Vice President of Sales for ADP/AdvancedMD, now oversees CareCloud’s growing small practice sales team. Mr. Blakey leads CareCloud’s group practice sales efforts, leveraging more than two decades of sales operational experience from leadership positions at Nextgen Healthcare Solutions and athenahealth. With the addition of these executives and a growing national sales team, CareCloud was able to experience tremendous momentum across all its product lines, achieving more than a 300% increase in year over year new sales bookings.

2012 also saw major strides in CareCloud’s ability to market its cloud-based solutions, generate qualified leads, and drive overall awareness. Joe Sawyer joined as Vice President of Marketing, bringing significant enterprise software and healthcare-specific marketing experience. Mr. Sawyer had previously worked as Vice President of Marketing for American Well, a Boston-based leader in telemedicine technology, as well as at SAP, Accenture, and Forrester Research. CareCloud also experienced an increase in its public relations and overall awareness capabilities during the year with the addition of John Hallock as its Vice President of Corporate Communications. Mr. Hallock was formerly head of corporate communications for athenahealth.

To fuel product, operational, and technology excellence, CareCloud secured a leader in clinical software applications while expanding its account management and support functions. Edwin Miller joined the company as Vice President of Product Management. Mr. Miller, who most recently held leadership positions at Practice Fusion and athenahealth, is now responsible for the design and rollout of CareCloud’s entire product set. In November, Ralph Catalano joined the company as the new Vice President of Operations. He came to CareCloud after spending nearly 10 years at athenahealth where he held various operational leadership positions, including leading all operations. The year concluded with the hiring of John Walsh as Chief Technology Officer. Prior to CareCloud, Mr. Walsh was Senior Vice President, Engineering and Operations for Constant Contact®, Inc., a leading online marketing company offering email, social media, survey and event marketing tools. He brings unique experience with web-scaling in business-to-business environments that will play a central role in evolving CareCloud’s product architecture moving forward.

Santalo continued, “Heading into 2012, it was critical for CareCloud to recruit and assemble some of the most talented and experienced executives both inside and outside of our industry. I feel we now have an unparalleled senior leadership team. It’s these leaders and their respective teams that will allow us to continue experiencing tremendous growth in all phases of operations, disrupt legacy healthcare IT vendors, and evangelize the ‘cloud’ in healthcare.”

Physicians Making the Switch to the “Cloud”

In 2012, 93 percent of CareCloud’s new customers signed up because they were looking to replace outdated practice management and billing systems, feeling it was critical to maintaining their financial success. During the past year, the government implemented a series of regulations that significantly impact the way doctors and their staffs administer care and gain reimbursement. As a result, these practices discovered that their previous systems – many developed in the 1980s and 1990s – would not easily accommodate the changes.

“As a medical clinic supporting a continuing care retirement community, our patients’ healthcare needs range from routine wellness visits to traditional primary care, as well as coordination with external specialists. This requires us to have the best possible care coordination in place. Having the latest technology to assist us is critical,” said Bill Cohen, Director of the Horizon House Medical Clinic, Seattle, Washington.

“Our clinic needs to stay as current as possible with the changing reimbursement requirements relating to Medicare and other commercial insurance. We found that our client server electronic health record and practice management system was cost prohibitive and the outsourced management of the system was insufficiently responsive to our needs,” added Cohen. “Our switch to a cloud-based system has already allowed us to cut costs while positioning our clinic to stay current with changes in the healthcare system that impact both us and our patients.”

In late 2012, CareCloud made available a guide designed to assist care providers and their staff through the process of assessing practice management needs, finding a new practice management and billing software system, and successfully replacing old systems. The intention was to educate and assist physician practices as they look to learn more about cloud-based technologies.

This white paper and practice management guide, “Time to Switch: Your Complete Guide to Practice Management System Replacement” is available online and marks the beginning of a series of forthcoming market research and analysis focused on improving practice profitability.

About CareCloud

CareCloud is a leading provider of cloud-based practice management, electronic health record (EHR) and medical billing software and services for medical groups. The company’s products are connecting providers to one another – and to their patients – through a fully integrated digital healthcare ecosystem that can be accessed on any browser or device.

CareCloud is helping over 2,000 thousand providers increase collections, streamline operations and improve patient care in more than 45 states. The company received over $20 million in Series A funding from Intel Capital and Norwest Venture Partners in 2011. To learn more about CareCloud, please visit www.carecloud.com.

February 22, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 15 blogs containing almost 6000 articles with John having written over 3000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 14 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John launched two new companies: InfluentialNetworks.com and Physia.com, and is an advisor to docBeat. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and Google Plus.

Florida International University and CareCloud Partner to Provide Health Informatics Students Access to CareCloud Charts, Its National Electronic Health Record Platform

MIAMI–(BUSINESS WIRE)– The Chief Technology Officer of CareCloud, a Miami-based provider of cloud-based practice management, electronic healthcare record (EHR), revenue cycle management and medical billing software and services for medical practices, headed back to school at Florida International University (FIU) the other day. Tom Packert showed up for class in the Master of Science in Health Informatics and Management Systems program, but not as a student. Instead, he came to launch a unique partnership between CareCloud and FIU that will let students in the Master’s program access CareCloud Charts, its electronic health record software, as if they were physicians or practice administrators with their own practices.

Mr. Packert described CareCloud’s holistic approach to the health care system, explaining the company’s perspectives on how to create and deploy a modern technology infrastructure in an industry that often runs on solutions built three or four decades ago. He also lectured the students on cybersecurity and defusing the threats posed by hackers and cybercriminals, showing them an online application that he uses to encrypt all of his website logins. For this HIPAA-compliant class, his advice was well-received.

Ian Bjorsvik, CareCloud’s EHR specialist, then provided an overview of the electronic health record and practice management systems. As part of the new partnership, each student in the class will be given a login and full access to all of CareCloud’s software features, just as medical staff in a clinic would have. This new program will enable FIU students to work with the latest electronic health record technology for a unique perspective on how technology can impact every aspect of a medical practice.

“The partnering between FIU and CareCloud is an example of how a major institution of education can work with local, innovative companies to prepare students for leadership positions once they graduate. By integrating health care management with training in the use of health information technology, FIU is working proactively to prepare a cohort of Master’s students for their role as agents of transformation in health care delivery,” said Faculty Director, MS HI&MS, Prof. Neera Bhansali. “This program combines practical applications of health information theories and concepts for more effectively managing an organization’s resources and improving the delivery of health care services.”

“We are thrilled to partner with FIU on this exciting new collaboration that will allow its students access to our cloud-based platform. These students represent the next wave of healthcare professionals who will demand that all technology be as intuitive and easy to use as Facebook and Twitter – accelerating the industry’s current move away from antiquated stand-alone software and toward cloud-based technologies,” said Albert Santalo, Chairman and CEO of CareCloud. “ Given the growth of our platform, we envision working with additional universities to create a modern healthcare ecosystem and spur innovation.”

Most of the students in the new FIU Master of Science in Health Informatics and Management Systems program are health care professionals. With the hands-on experience of using the CareCloud software, they stand to gain valuable knowledge in the technology of health care’s future. Class instructor, Dr. Christopher Sullivan, notes “My students are eager to learn about medical informatics, so access to first class health care software like CareCloud optimizes their educational opportunity.”

About Florida International University, Chapman Graduate School of Business

The Master of Science in Health Informatics and Management Systems is designed for health care professionals who desire to increase their knowledge of health information management and improve their skills in health information technology. Each course is designed to integrate information technology and management principles with healthcare delivery processes. For more information visit: http://business.fiu.edu/chapman/mshims/

About CareCloud

CareCloud is a leading provider of cloud-based practice management, electronic health record (EHR) and medical billing software and services for medical groups. The company’s products are connecting providers to one another – and to their patients – through a fully integrated digital healthcare ecosystem that can be accessed on any browser or device.

CareCloud is helping thousands of physicians to increase collections, streamline operations and improve patient care in over 30 states. The company was named a winner of IBM’s SmartCamp Silicon Valley 2010 for its innovative technology and received over $20 million in Series A funding from Intel Capital and Norwest Venture Partners. To learn more about CareCloud, please visit www.carecloud.com.

October 23, 2012 I Written By

Lone Star MSO Partners with CareCloud to Offer Cloud-Based Software and Services to Texas Physicians

DALLAS & MIAMI–(BUSINESS WIRE)– CareCloud, a leading provider of web-based practice management, electronic healthcare record (EHR), revenue cycle management and medical billing software and services, today announced that it has partnered with Lone Star MSO, the leading medical practice management services organization in Texas, to offer CareCloud’s cloud-based software and services to medical practice clients. Lone Star MSO currently services hundreds of medical group clients throughout Texas and multiple other states and will look to further assist them in optimizing financial and clinical outcomes through CareCloud’s platform and services.

“We are extremely excited to partner with CareCloud and offer their cloud-based software and services to our clients across Texas and the nation during a time when medical groups of all sizes are requiring more flexible and cost effective ways to streamline their administrative operations and the patient care they deliver,” said Trey W. Schroeder, Managing Director of Lone Star MSO. “We have always looked to bring the industry’s leading web-based practice management technologies to our clients. It has become clear that CareCloud’s practice management and EHR offerings stand out from others in the industry and will be a tremendous help to administrators and caregivers as they navigate an increasingly complex healthcare regulatory environment while delivering the best care possible.”

Under the terms of the agreement, Lone Star MSO will be a value-added reseller of CareCloud’s full suite of cloud-based physician practice management products at pre-negotiated pricing to Lone Star MSO clients. CareCloud currently offers medical groups its Meaningful Use certified electronic health record solution, CareCloud Charts, which is fully integrated with the Company’s practice management offering, CareCloud Central. Additionally, Lone Star MSO customers will be able to leverage CareCloud Concierge, a complete revenue cycle management solution that utilizes dynamic rules intelligence software, expert live support and real time business analytics and reporting tools to help medical practices increase collections and streamline operations.

“Lone Star MSO continues to stand apart in its ability to bring innovative services and technology to physicians across Texas and the nation. By partnering with CareCloud, Lone Star MSO will help its clients grow their practices and deliver the best patient care possible,” said Albert Santalo, Chairman and CEO of CareCloud. “We are thrilled to team with Lone Star MSO and its management team as we look to expand the nationwide presence of our cloud-based platform to help physicians take advantage of new government incentive programs and navigate emerging payer reimbursement methodologies.”

About Lone Star MSO

Lone Star MSO is the most strategically focused practice services organization in North Texas. We offer a comprehensive suite of support services which include managed care contracting, billing and accounts receivable management, human resources management, cutting-edge information technology solutions, and financial analysis and reporting.

By delegating your business management operations to Lone Star MSO, practice leadership is able to focus on clinical care, top line growth, strategy and development. For more information visit; www.lonestarmso.com

About CareCloud

CareCloud is a leading provider of web-based practice management, revenue cycle management, electronic health record (EHR) and medical billing software and services for medical groups. The company’s products are connecting providers to one another – and to their patients – through a fully integrated digital healthcare ecosystem that can be accessed on any browser or device.

CareCloud is helping more than 1,200 physicians to increase collections, streamline operations and improve patient care in over 30 states. The company was named a winner of IBM’s SmartCamp Silicon Valley 2010 for its innovative technology and received over $20 million in Series A funding from Intel Capital and Norwest Venture Partners. To learn more about CareCloud, please visit www.carecloud.com.

September 4, 2012 I Written By

CareCloud Appoints Edwin Miller as Vice President of Product Management

Healthcare Information Technology Veteran to Oversee Continued Development of CareCloud’s Cloud-Based EHR and Mobile Offerings

MIAMI–(BUSINESS WIRE)–CareCloud, a leading provider of web-based practice management, electronic healthcare record (EHR), revenue cycle management and medical billing software and services, today announced that the company has hired Edwin Miller as its new Vice President of Product Management. In his new role, Mr. Miller will oversee all development of CareCloud’s existing EHR and forthcoming mobile offerings for the physician practice market. He brings decades of product development and engineering experience to CareCloud, most recently through leadership positions at Practice Fusion and athenahealth. Mr. Miller will be a member of CareCloud’s executive leadership team and report to Chairman and CEO Albert Santalo.

“We are seeing exciting traction in the marketplace, especially with the launch of our cloud-based EHR, CareCloud Charts, so Edwin’s deep experience in clinical product development will be a tremendous force multiplier as we continue to experience a surge in growth and client demands,” said Mr. Santalo. “Edwin understands the need for a healthcare IT platform to provide the flexibility to get users ‘on the cloud’ while causing the least amount of disruption to their practices’ operational and clinical workflows. His unique skillset and experience with the integration of clinical and financial data will be critical as we continue to execute on our long-term vision of creating healthcare’s first fully integrated digital ecosystem.”

“CareCloud represents a true emergence of cloud computing in healthcare and has the velocity to back that up. Other web-based products in the market are showing their age, at 10 or more years old now, and most systems are mired in legacy technology. I have long sought to join a company where a comprehensive solution for physicians could be done right, and CareCloud is it,” said Mr. Miller. “With the growing movement to have caregivers track and provide clinical information in conjunction with costs, CareCloud has the opportunity to not just change the way providers deliver care, but how they view and use healthcare technology.”

Prior to joining CareCloud, Mr. Miller held a number of leadership and product management positions at prominent healthcare technology firms, including Practice Resource Network, digiChart, Artromick International, Practice Fusion, athenahealth and Curaspan Health Group. While at athenahealth, Mr. Miller and his team helped design and launch the Company’s EHR, athenaClinicals.

Mr. Miller is a graduate of the University of Rochester and the Vanderbilt University Owen School of Management.

About CareCloud

CareCloud is a leading provider of web-based practice management, electronic health record (EHR) and medical billing software and services for medical groups. The company’s products are connecting providers to one another – and to their patients – through a fully integrated digital healthcare ecosystem that can be accessed on any browser or device.

CareCloud is helping more than 1,200 physicians to increase collections, streamline operations and improve patient care in over 30 states. The company was named a winner of IBM’s SmartCamp Silicon Valley 2010 for its innovative technology and received over $20 million in Series A funding from Intel Capital and Norwest Venture Partners. To learn more about CareCloud, please visit www.carecloud.com.

August 23, 2012 I Written By

CareCloud Enters Electronic Health Record Market, Unveils Complete ONC-ATCB Meaningful Use Certification

CareCloud Charts comes fully loaded with everything required for doctors to take their offices completely paperless, including: medical charting, lab and diagnostic ordering/receiving, ePrescribing and medication management, clinical encounter documentation, patient education, medical document management and specialty-specific templates. Physicians are also able to demonstrate Meaningful Use, allowing eligible providers to receive the $44,000 Medicare or $63,750 Medicaid EHR incentive funding and avoid penalties.

Revolutionary EHR software delivers comprehensive and integrated clinical, financial and administrative management for physician practices

Miami, Florida – January 12, 2012 – Today, cloud-based healthcare solution provider CareCloud announced its official entrance into the electronic health record (EHR) market. CareCloud Charts’ breakthrough user interface is a revolutionary approach to maintaining and sharing patient medical information across the continuum of care while accelerating, rather than hindering, clinical workflow.

CareCloud Charts has already been awarded ambulatory certification (ONC-ATCB 2011/2012) as a Complete EHR by Drummond Group, an Office of the National Coordinator (ONC) Authorized Testing and Certification Body (ATCB). Charts has also been certified by SureScripts, making it a fully-functional tool for ePrescribing on SureScripts’ nationwide network.

With the launch of the CareCloud Charts EHR, the company will further accelerate the rapid adoption of its web-based software and services, which already help thousands of physicians today streamline and consolidate the clinical, financial and administrative aspects of their business.

“Our primary mission has always been to simplify and streamline the entire healthcare experience. Rather than rushing to the market with an incomplete or ill-conceived electronic health record product, we decided to first invest in building a strong foundation that supports the entire revenue cycle. We then developed the clinical apps on top of that foundation,” said Albert Santalo, President and CEO of CareCloud. “Now, with the public availability of CareCloud Charts, physicians can actually look forward to using their EHR.”

“We’re obsessed with delivering an incredible software experience; that’s not something many other vendors can say,” Santalo continued. “Almost no other company has built a unified EHR and practice management solution from the ground up. The level of seamlessness and elegance we are achieving cannot be created through a merger of two companies and their respective product lines. By offering Charts as part of a comprehensive suite, we’re helping the entire staff pull together in one direction through one system, without needless steps in the process.”

CareCloud Charts comes fully loaded with everything required for doctors to take their offices completely paperless, including: medical charting, lab and diagnostic ordering/receiving, ePrescribing and medication management, clinical encounter documentation, patient education, medical document management and specialty-specific templates. Physicians are also able to demonstrate Meaningful Use, allowing eligible providers to receive the $44,000 Medicare or $63,750 Medicaid EHR incentive funding and avoid penalties.

Benefits of using CareCloud Charts:

•       Pure Cloud: CareCloud’s user-friendly platform delivers small to large physician practices secure 24/7/365 access to their entire business through any modern web browser, natively on a Mac or PC. CareCloud updates and improves its software regularly, but because it delivers Charts through the cloud in a single instance, all clients use the latest version and do not have to disrupt their operations to upgrade.

•       Fully Integrated: Physicians have enough challenges during their EHR vendor selection process to have to worry about integrating multiple systems just to get a simple claim out the door. CareCloud is a one-stop-shop for physicians looking to streamline their practice management and electronic records systems with minimal investment or disruption to the practice.

•       Unparalleled Usability: Charts’ design was guided by an intimate understanding of the patient encounter. CareCloud’s designers and developers spent countless hours working with physicians while they provided patient care within their practices, then focused on delivering a superior user experience that drives improved patient outcomes and reduced operating costs.

•       Safe & Secure: The Department of Health and Human Services concluded in a study that 63% of HIPAA security breaches were due to physical theft or loss of data. Web-based EHRs eliminate the most common security risks, since there are no physical files to be compromised. Physicians also enjoy advanced security features such as redundancy, constant backups, granular permissions and audit trails.

•       Constant evolution: Healthcare reform has spawned government mandates, new payment models and shifting patient expectations, all of which are taxing the existing technology infrastructure to its limit. Physicians are facing an evolving healthcare industry that demands their practice be adaptive and connected. Unlike legacy systems, CareCloud’s platform is designed to embrace change and evolve with the industry.

•       Built for a real-time world: Patients are surrounded by a myriad of sensors and smart devices, which monitor, measure and track all aspects of the human body. Today, very little, if any, of this valuable data is captured and aggregated into a single patient health record. CareCloud’s foundation utilizes an advanced cloud architecture, which can seamlessly capture unstructured health data. The company ultimately envisions developing this capability to provide a real-time portrait of each patient’s wellness.

“We have always strongly believed that a modern cloud-based platform is what will save the healthcare industry from arcane paper-based processes,” said CareCloud CEO Albert Santalo. “Unfortunately, with the median up-front EHR capital investment hovering around $30,000 per full-time physician, there’s no question that the market has failed to provide physicians with a sophisticated, cost-effective option. The fact that physicians have to even consider financing for an EHR system is just crazy – we’re here to change all that.”

CareCloud, which announced $20.1 million in Series A funding in September, provides medical practices with a powerful, secure cloud-based platform for practice management, electronic health records and revenue cycle management. The company’s solutions automate everything a successful, modern medical practice needs, like appointment scheduling, patient care, billing and accounts receivable management. Delivered in the cloud, data is more secure, less expensive and accessible anytime, anywhere and on any device (desktop, laptop, or tablet).

CareCloud Charts is available now. For more information, visit CareCloud.com.

About CareCloud

CareCloud’s mission is to revolutionize the healthcare experience through on-demand software and services. Leading the charge to bring cloud computing to the healthcare industry, CareCloud delivers an integrated suite to maximize physician practice performance that includes:

•       Charts — electronic health records software that seamlessly integrates into practice workflow
•       Central — a complete medical practice management system from scheduling to billing
•       Concierge — a comprehensive revenue cycle management solution for health care providers
•       Community — a secure patient and provider portal to increase communication and collaboration

CareCloud currently services more than 1,000 physicians and other healthcare providers throughout the United States and was named a winner of IBM’s SmartCamp Silicon Valley 2010 for its innovative new technology. For more information, visit CareCloud online at www.carecloud.com.

January 18, 2012 I Written By